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Six Bidco to buy Sigma Capital Group in £188.4 million deal

By BFN News | 08:18 AM | Friday 11 June, 2021


Six Bidco and Sigma Capital have announced they have reached an agreement on a recommended cash offer by Bidco for the entire issued (and to be issued) share capital of Sigma. The agreement means each Sigma shareholder will receive 202.1p in cash for each Sigma share. The acquisition values the entire issued share capital of Stigma at approximately £188.4 million. Commenting on the acquisition, David Sigsworth, the senior independent non-executive director of Sigma, said: ?Following a competitive sale process initiated by the Company in line with its strategic growth plans, which attracted strong interest from multiple well-funded parties, the Independent Sigma Directors believe the cash offer of 202.1 pence per share from Bidco is highly attractive and in the interests of all Sigma Shareholders.? ?The offer presents an opportunity for Sigma Shareholders to crystallise a meaningful premium today to various share price based metrics and the Independent Sigma Directors intend to recommend the offer unanimously. The Independent Sigma Directors believe Bidco and PineBridge Benson Elliot can provide Sigma with the platform required to capitalise on the significant market opportunity in the UK residential real estate sector,? he continues. Story provided by StockMarketWire.com

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